OakNorth Bank has provided a bespoke financing facility to support the acquisition and redevelopment of the Grade I listed Dumbleton Hall Hotel.
Located on the border between Gloucestershire and Worcestershire and within the Cotswold AONB, Dumbleton Hall was built as a mansion in the mid-19th century before becoming a hotel after World War II.
The hotel currently has 39 rooms, a variety of function rooms and 19 acres of gardens, forests and lakes.
The project, in which the hotel will be expanded from a 3-star to a 4-star plus hotel and five new rooms and more event space will be added, is being led by the team at the US real estate developer Chatham Park Development.
The upgraded hotel is operated by Bespoke Hotels, which operate more than 14,000 rooms in more than 90 hotels worldwide.
Paul Vezolles, Founder and President of Chatham Park Development, said, “Dumbleton Hall has a unique and rich history, so it is our privilege to breathe new life into the property to preserve its historical significance while bringing it up to date Expectations.
“With every project we work on, we strive to achieve and deliver the best possible outcome for everyone involved. Our Dumbleton Hall redevelopment is no exception to this rule.”
Marcus Hook and Steve Mitchell, Director of Debt Finance at OakNorth Bank, added, “With the ongoing restrictions imposed by Covid-19, there is a pent-up demand for stays and weddings in the UK.
“This will stay that way well into next year, as countries around the world decide what to do with Covid passports, quarantines, etc. Given the popular location for tourists, the 4-star plus upgrade, additional Spaces and function rooms as well as the fact that it is. is operated by a leading hotel group which means Dumbleton Hall is in a prime position to maximize this trend.
“We are very much looking forward to the renovation and hope to be able to work closely with Paul and the team again in the not too distant future.”